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10 often overlooked places to look for savings

When you search the internet for articles on the saving money, most usually say the same old obvious suggestions like turning lights off, turning the thermostat down and bringing your lunch to work.

The following are some not-so-common places to look for savings – in some very common ways we “waste” money.

As you read through the list, think about how much these may have cost you in the past, or imagine how much they could cost you in the future. As you add it all up, you may find that you have a hidden pot of gold right under your fingertips.

The money you waste trying to save money, e.g.

Buying things you don’t need or will rarely use just because they’re on sale

Buying more than you need to save money and charging it to a credit card that you don’t pay off each month

Not paying enough for parking and getting a more expensive parking ticket

The cost of not paying attention, e.g.

Driving distracted – and spilling your coffee, or getting a ticket or getting in an accident, or all of the above

Getting injured or breaking something because of rushing or not paying attention to what you’re doing (like distracted walking)

Getting stuff stolen from your car because you had valuables showing or from your bag because you didn’t pay attention

Using shopping as a means to cope with emotional upset, a.k.a. retail therapy

Going grocery shopping when you’re hungry

Texting while you’re angry or drunk or both

Saying yes when you really mean no

The cost of doing it yourself (when you really don’t know what you’re doing or you’re better off doing something more productive), e.g.

Trying to do yourself something that ended up costing you more money or taking up too much of your time.

The cost of learning by trial and error where could you have hired professionals or take courses to help you succeed rather than paying

Thinking that the “do it yourself” “Will” and power of attorney is “good enough”

The cost of “dysfunctional” gift giving, e.g.

Lending money you don’t have, to people who are continually in financial trouble, will probably never pay you back, and you’re probably “enabling”.

Buying a gift you can’t afford just to keep up appearances.

Please share this with a friend, family member or co-worker who might get value out of this information.

For more helpful financial tips, see other articles on www.DytucoFinancialServices.com. Also feel free to contact me for a complimentary review of your financial plan or retirement plan. I can help you look at different strategies to meet your specific needs for covering your risks and saving for your retirement.

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About Medy

Medy, also known by her “proper name” Magdalena, is a Certified Financial Planner, Designated Accountant, trained life coach and has over 20 years experience in business and financial analysis. She also coached a leadership course for several years and completed the Coaches Training Institute Co-Active Coaching program. She brings all this together in educating and empowering her clients with creative strategies to help them achieve the life they want at retirement, reach their financial goals with freedom & ease, as well as to keep more of their hard earned money through their lifetime.

Disclaimer

No blog post or online article could ever take the place of a one-on-one discussion with an experienced professional advisor. Even when responding to a reader question, the answers on this blog are intended as general information only. Don't rely on general information as if it were professional advice specific to your particular situation. Use what you read here as a starting point for your research and inquiries.